Trading Report: The Tesaro Inc. (TSRO) Lowered to “Sell” at Zacks Investment Research

The Tesaro Inc. (TSRO) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Tesaro Inc. (NASDAQ:TSRO) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “Tesaro, Inc. is an oncology-focused biopharmaceutical company for cancer patients. The Company’s product portfolio consists of Rolapitant, a neurokinin-1 receptor antagonist for the prevention of chemotherapy induced nausea and vomiting, TSR-011, an orally available anaplastic lymphoma kinase inhibitor for the treatment of non-small cell lung cancer and other cancer indications, and Niraparib, an orally active and potent poly (ADP-ribose) polymerase inhibitor for the treatment of patients with solid tumors. Tesaro, Inc. is based in Waltham, Massachusetts. “

A number of other research analysts also recently commented on TSRO. FBR & Co boosted their price objective on shares of Tesaro from $65.00 to $93.00 and gave the company an outperform rating in a research report on Wednesday, June 29th. Jefferies Group cut shares of Tesaro from a buy rating to a hold rating and lifted their target price for the company from $53.00 to $75.00 in a research note on Thursday, June 30th. They noted that the move was a valuation call. Leerink Swann lifted their target price on shares of Tesaro from $65.00 to $95.00 and gave the company an outperform rating in a research note on Thursday, June 30th. Mizuho reiterated an outperform rating and issued a $67.00 target price on shares of Tesaro in a research note on Thursday, June 30th. Finally, Wells Fargo & Co. reiterated an outperform rating on shares of Tesaro in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $110.11.

Shares of Tesaro (NASDAQ:TSRO) traded up 1.14% during trading on Tuesday, hitting $116.64. 203,817 shares of the company traded hands. The stock’s market cap is $5.99 billion. Tesaro has a one year low of $29.51 and a one year high of $122.89. The firm has a 50 day moving average price of $97.53 and a 200-day moving average price of $70.11.

Tesaro (NASDAQ:TSRO) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The firm had revenue of $36.60 million for the quarter, compared to the consensus estimate of $4.98 million. During the same period in the previous year, the firm posted ($1.51) earnings per share. Analysts predict that Tesaro will post ($7.36) EPS for the current year.

In related news, VP Jeffrey H. Hanke sold 29,166 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the transaction, the vice president now owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total transaction of $44,112.96. Following the transaction, the senior vice president now directly owns 1,250 shares in the company, valued at approximately $135,150. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.

A number of large investors have recently made changes to their positions in TSRO. KCG Holdings Inc. acquired a new stake in shares of Tesaro during the second quarter valued at about $228,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Tesaro during the second quarter valued at about $240,000. Bluestein R H & Co. acquired a new stake in shares of Tesaro during the second quarter valued at about $252,000. Neuberger Berman Group LLC acquired a new stake in shares of Tesaro during the second quarter valued at about $256,000. Finally, Amalgamated Bank acquired a new stake in shares of Tesaro during the second quarter valued at about $260,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

About Tesaro

TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.

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